Gaining Momentum

The leading indicator for the chemical industry gained 2.3% in May, the third consecutive monthly advance, making it 14% ahead of the March 2009 low. Chemical industry output rose 6.7% in May. Industrial production in the chemical-process industries, an important part of the index, rose 2.9%. There were gains in output for all five sectors: building materials, paper, petroleum refining, primary metals, and rubber and plastic products. New orders for manufactured products rose 1.1%, with durables down 0.6% and nondurables up 2.9%. Orders for construction materials...

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